NetApp, Inc. $NTAP Holdings Lifted by Allworth Financial LP

Allworth Financial LP raised its position in NetApp, Inc. (NASDAQ:NTAP) by 54.4% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 13,956 shares of the data storage provider’s stock after purchasing an additional 4,917 shares during the quarter. Allworth Financial LP’s holdings in NetApp were worth $1,487,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Cypress Capital LLC increased its position in NetApp by 137.4% in the 2nd quarter. Cypress Capital LLC now owns 30,550 shares of the data storage provider’s stock valued at $3,255,000 after acquiring an additional 17,680 shares during the period. Illinois Municipal Retirement Fund grew its stake in shares of NetApp by 23.2% in the second quarter. Illinois Municipal Retirement Fund now owns 201,945 shares of the data storage provider’s stock worth $21,517,000 after purchasing an additional 38,071 shares in the last quarter. ProShare Advisors LLC increased its holdings in shares of NetApp by 11.7% during the second quarter. ProShare Advisors LLC now owns 44,328 shares of the data storage provider’s stock valued at $4,723,000 after purchasing an additional 4,633 shares during the period. CSM Advisors LLC bought a new stake in shares of NetApp during the second quarter valued at about $6,740,000. Finally, Campbell & CO Investment Adviser LLC lifted its holdings in NetApp by 739.0% in the second quarter. Campbell & CO Investment Adviser LLC now owns 39,888 shares of the data storage provider’s stock worth $4,250,000 after purchasing an additional 35,134 shares during the period. 92.17% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

NTAP has been the topic of several research analyst reports. Weiss Ratings reissued a “hold (c+)” rating on shares of NetApp in a research note on Wednesday, October 8th. UBS Group increased their price objective on shares of NetApp from $108.00 to $114.00 and gave the company a “neutral” rating in a report on Thursday, August 28th. Bank of America boosted their target price on NetApp from $121.00 to $125.00 and gave the stock a “neutral” rating in a report on Monday, August 25th. Northland Securities upped their target price on NetApp from $119.00 to $120.00 and gave the stock a “market perform” rating in a research report on Thursday, August 28th. Finally, Barclays lifted their price target on NetApp from $117.00 to $125.00 and gave the company an “overweight” rating in a research report on Thursday, August 28th. Seven investment analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $122.07.

NetApp Stock Performance

NTAP stock opened at $109.60 on Friday. The firm has a 50 day simple moving average of $118.87 and a 200 day simple moving average of $109.01. The stock has a market cap of $21.88 billion, a P/E ratio of 19.36, a P/E/G ratio of 2.48 and a beta of 1.46. NetApp, Inc. has a 52 week low of $71.84 and a 52 week high of $135.45. The company has a debt-to-equity ratio of 2.55, a quick ratio of 1.28 and a current ratio of 1.31.

NetApp (NASDAQ:NTAP) last posted its quarterly earnings results on Wednesday, August 27th. The data storage provider reported $1.19 EPS for the quarter, missing the consensus estimate of $1.54 by ($0.35). NetApp had a net margin of 17.77% and a return on equity of 123.24%. The company had revenue of $1.56 billion for the quarter, compared to analysts’ expectations of $1.54 billion. During the same quarter in the prior year, the firm earned $1.56 earnings per share. The company’s revenue was up 1.2% on a year-over-year basis. NetApp has set its FY 2026 guidance at 7.600-7.900 EPS. Q2 2026 guidance at 1.840-1.940 EPS. Research analysts anticipate that NetApp, Inc. will post 5.89 earnings per share for the current fiscal year.

NetApp Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, October 22nd. Shareholders of record on Friday, October 3rd were given a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 1.9%. The ex-dividend date of this dividend was Friday, October 3rd. NetApp’s dividend payout ratio is presently 36.75%.

Insider Transactions at NetApp

In related news, CEO George Kurian sold 8,750 shares of the firm’s stock in a transaction that occurred on Wednesday, September 17th. The shares were sold at an average price of $122.91, for a total transaction of $1,075,462.50. Following the transaction, the chief executive officer owned 274,938 shares of the company’s stock, valued at approximately $33,792,629.58. This trade represents a 3.08% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Elizabeth M. O’callahan sold 1,000 shares of NetApp stock in a transaction that occurred on Friday, October 10th. The shares were sold at an average price of $119.00, for a total transaction of $119,000.00. Following the completion of the sale, the executive vice president owned 22,628 shares of the company’s stock, valued at $2,692,732. This trade represents a 4.23% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 20,029 shares of company stock valued at $2,338,294 in the last three months. Corporate insiders own 0.28% of the company’s stock.

NetApp Company Profile

NetApp, Inc provides cloud-led and data-centric services to manage and share data on-premises, and private and public clouds worldwide. It operates in two segments, Hybrid Cloud and Public Could. The company offers intelligent data management software, such as NetApp ONTAP, NetApp Snapshot, NetApp SnapCenter Backup Management, NetApp SnapMirror Data Replication, NetApp SnapLock Data Compliance, and storage infrastructure solutions, including NetApp All-Flash FAS series, NetApp Fabric Attached Storage, NetApp E/EF series, and NetApp StorageGRID.